BOK Financial Corporation (BOKF) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of BOK Financial Corporation (NASDAQ:BOKF) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Shares of BOK Financial have outperformed the industry in the past one year. This price performance is backed by impressive earnings surprise history. The company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. We believe the diverse revenue mix and favorable geographic footprint will likely support growth in the upcoming quarters. The company's continuous expansion via acquisitions is also expected to aid top-line growth. However, consistently mounting costs remain near-term headwind. Also, significant exposure towards brokerage and trading revenues remain a major concern.”
A number of other equities analysts also recently commented on the stock. Stephens restated a buy rating and issued a $95.00 target price on shares of BOK Financial Corporation in a research note on Tuesday, June 6th. Hovde Group decreased their price target on shares of BOK Financial Corporation from $97.00 to $94.00 and set an outperform rating for the company in a research note on Wednesday, June 28th. BidaskClub raised shares of BOK Financial Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th. ValuEngine upgraded BOK Financial Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $90.00 price target on shares of BOK Financial Corporation in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $89.63.
BOK Financial Corporation (NASDAQ BOKF) traded down 1.46% during mid-day trading on Tuesday, reaching $88.57. 55,848 shares of the company traded hands. BOK Financial Corporation has a 12-month low of $67.53 and a 12-month high of $90.69. The firm has a market capitalization of $5.79 billion, a P/E ratio of 19.33 and a beta of 1.01. The company’s 50 day moving average price is $82.55 and its 200 day moving average price is $82.15.
BOK Financial Corporation (NASDAQ:BOKF) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. BOK Financial Corporation had a net margin of 18.96% and a return on equity of 8.87%. The company had revenue of $387.46 million during the quarter, compared to analyst estimates of $384.52 million. During the same quarter last year, the business posted $1.00 EPS. Equities research analysts predict that BOK Financial Corporation will post $5.39 EPS for the current year.
In other BOK Financial Corporation news, EVP Stacy Kymes sold 3,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $85.06, for a total transaction of $255,180.00. Following the completion of the sale, the executive vice president now owns 29,627 shares in the company, valued at $2,520,072.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stephen D. Grossi sold 550 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $81.62, for a total value of $44,891.00. Following the sale, the executive vice president now owns 12,601 shares of the company’s stock, valued at approximately $1,028,493.62. The disclosure for this sale can be found here. 62.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of BOK Financial Corporation by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 175,347 shares of the bank’s stock valued at $13,725,000 after acquiring an additional 9,052 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of BOK Financial Corporation by 12.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 8,724 shares of the bank’s stock worth $683,000 after acquiring an additional 1,000 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of BOK Financial Corporation in the 1st quarter worth $974,000. Envestnet Asset Management Inc. raised its position in shares of BOK Financial Corporation by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,651 shares of the bank’s stock worth $1,458,000 after acquiring an additional 2,721 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of BOK Financial Corporation by 11.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,686 shares of the bank’s stock worth $210,000 after acquiring an additional 282 shares in the last quarter. 31.71% of the stock is currently owned by institutional investors and hedge funds.
About BOK Financial Corporation
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona and Kansas/Missouri. The Company’s segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other.
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